Message Font: Serif | Sans-Serif
No. of Recommendations: 0
I recieved, in February 1998, $10,000 in stock as GIFT from parent (donor). Donor paid no tax on gift. Stock was sold by me in March 2000 for about $6500. (Proceeds were then used to purchase other stock.)

QUESTION: what is my cost basis of the sold stock for tax reporting purposes on my 2000 Schedule D? Is ir zero? $10,000 ? Or does it have to be calculated by some formula?
Print the post  


In accordance with IRS Circular 230, you cannot use the contents of any post on The Motley Fool's message boards to avoid tax-related penalties under the Internal Revenue Code or applicable state or local tax law provisions.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.